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India’s oil demand in 2018 rises from a 4-year low

India’s demand for oil rebounded in 2018 as the country recovered from the shock of demonetization and GST roll out. The country’s consumption of petroleum products rose 4.1% to about 210 million tons, the Oil Ministry said on Friday. The consumption growth in 2017 was 2.7%, the slowest since 2013. A spike in fuel and LPG prices, the liquidity crisis in the NBFC sector, subdued vehicle sales and weak industrial activity affected oil consumption in the last six month of 2018. Diesel consumption, which accounts for 40% of fuel demand in India, increased by 4.3% to 82.7 million tons.

Read More at The Financial Express News date : 12 Jan 2019, Saturday

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